The global Breast Lesion Localization Methods market size is anticipated to around USD 2.3 billion by 2026, this market is anticipated to grow with 14.0% CAGR during the forecast time period. Breast cancer is the most noticeable and invasive cancers, therefore, growing occurrence of it among women is anticipated to boost the market development.
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As per Breast Cancer Organization, it was estimated that in 2018, around 266,120 new cases of invasive and 63,960 cases of non-invasive breast cancer would be detected. Increasing numeral of government and non-government compensation policies for breast cancer diagnostics, biopsy, and other related medical processes is expected to driver the acceptance of breast lesion localization approaches.
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Increasing need for improved healthcare infrastructure and facilities and growing consciousness level about breast cancer screening are also estimated to drive the market development. Such as, national breast cancer screening program in Australia named the Breast Screen Australia that delivers free mammogram test services every 2 years for women aged between fifty and seventy four. Emerging regions, for instance, China and India, are also increasing consciousness about early analysis.
Also, introduction of technically progressive products on the grounds of accuracy, safety, and cost-effectiveness is careful as the high impact-rendering parameters for the breast lesion localization methods market. Businesses, for instance, Endomagnetics and Cianna Inc. have emerged new variety of techniques correspondingly working on magnetic and electroradar guidance for localization of breast lesions. Such as, SAVI SCOUT localization technology of Cianna Medical, Inc. has achieved over around 50,000-breast tumor localization in around 375 hospitals across emerged countries like U.S.
The global Breast Lesion Localization Methods market is segmented into type and region.On the basis of type the global breast lesion localization methods market is segmented into Wire Guided, Radioisotope, Magnetic Tracer, and Others. The radioisotope segment is further bifurcated into Radio Guided Occult-Lesion Localization (ROLL), Radioactive-Seed Localization (RSL), and Others. On the basis of region the global breast lesion localization methods market is segmented into Latin America, Europe, Asia Pacific, North America, and Middle East & Africa.
North America captures the largest regional market and captured for 36.0% of the global market in 2018. The occurrence of well-established healthcare infrastructure and key producers in U.S. is anticipated to increase the regional development. Technological progressions paired with high economic growth in this region are also likely to boost the market.
Also, numerous activities by government and private firms to surge the consciousness is anticipated to spur the region’s growth. Such as, Wacoal America, Inc. planned a fund-raising activity, “Fit for the Cure”. The main objective was to contribute the treasuries to Susan G. Komen Breast Cancer Foundation and concurrently spread breast cancer consciousness in U.S.
Asia Pacific is anticipated to register the fastest CAGR of 16.3% during the forecast period due to high-unmet clinical needs, increasing disposable income level and patient awareness about early diagnosis. Also, speedily emerging healthcare infrastructure and growing need for breast conserving surgery are expected to provide potential development platform for this region. The industry is also driven by parameters, for instance,growing medical tourism in developing nations of APAC.
Market companies are concentrating on implementing new strategies for instance regional expansion, partnerships, mergers and acquisitions, new product launches, and distribution agreements to surge their revenue share. And also, growing R&D investments paired with technical advancements to commercialize highly efficient products are expected to offer huge growth opportunities for industry participants. Some of the main businesses present in the breast lesion localization methods market are C.P. Medical, SOMATEX Medical Technologies GmbH, C.R. Bard, Argon Medical Devices, Inc., Inc., Cook Medical, Cianna Medical, and others.
For instance, Cianna Medical, Inc. came into agreement of merger with Merit Medical Systems, Inc.in October 2018. The objective of the partnership is todeliver clinical support for research and development to Cianna Medical, Inc. for commercializing new technologies in the industry. Also, in April 2017, C.R Bard with BD declaredacontract under which BD acquired Bard to produce distinguished medical technology to expand the procedure of care and cure of illnesses for healthcare professionals and patients.
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